AJOVista LLC Makes New Investment in Intuit Inc. (NASDAQ:INTU)

AJOVista LLC purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, Holdings Channel reports. The firm purchased 318 shares of the software maker’s stock, valued at approximately $199,000.

Other hedge funds also recently bought and sold shares of the company. Brookstone Capital Management grew its position in shares of Intuit by 14.3% in the third quarter. Brookstone Capital Management now owns 2,273 shares of the software maker’s stock valued at $1,185,000 after purchasing an additional 285 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Intuit by 35.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 27,946 shares of the software maker’s stock valued at $14,279,000 after purchasing an additional 7,265 shares during the last quarter. Capital Advisors Inc. OK purchased a new stake in shares of Intuit during the 3rd quarter valued at $223,000. Stratos Wealth Partners LTD. grew its stake in shares of Intuit by 7.5% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 8,383 shares of the software maker’s stock valued at $4,283,000 after buying an additional 588 shares during the period. Finally, Stratos Wealth Advisors LLC raised its position in shares of Intuit by 0.9% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 2,240 shares of the software maker’s stock worth $1,145,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Evercore ISI boosted their price target on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. increased their target price on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Oppenheimer lifted their price target on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Mizuho raised their price objective on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, Susquehanna raised their price objective on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $650.23.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock valued at $3,117,156 over the last ninety days. Insiders own 2.90% of the company’s stock.

Intuit Price Performance

INTU traded up $15.23 on Friday, reaching $629.27. The company had a trading volume of 1,109,512 shares, compared to its average volume of 1,209,705. The company has a fifty day moving average of $637.56 and a 200-day moving average of $605.68. The company has a market capitalization of $176.20 billion, a P/E ratio of 64.21, a PEG ratio of 3.83 and a beta of 1.22. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a one year low of $400.22 and a one year high of $671.01.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. Intuit’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.05 EPS. As a group, equities research analysts anticipate that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were issued a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. Intuit’s payout ratio is currently 36.73%.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.